Wall Street, Banks Plunge on Inauguration Day. Dow Jones industrials lost 3.5 percent, dropping to its lowest levels since November 21. Bank stocks were hardest hit, falling almost 30 percent so far in the year. Treasury Secretary nominee Timothy Geithner called on senators to support the Obama administration’s $825 billion stimulus plan in his Senate Finance Committee hearing today. Federal Reserve and Federal Deposit Insurance Corp. call for a government-backed “aggregator bank” to buy troubled securities now held by institutions as toxic assets on their balance sheets.”]
Source: https://www.bankinfosecurity.com/wall-street-banks-plunge-on-inauguration-day-a-1171